Dorian LPG Ltd.
LPGDorian LPG Ltd.'s earnings have outrun its stock. EPS grew +112.1% in a year against a +53.5% price move.
The sharpest disagreement: annual EPS moved +112.1% against a +53.5% price move — the market has not yet caught up with the delivery.
The price is between stages while the P/E sits at the 32nd percentile of its own 1-year range. Underneath, the last four quarters read improving — profit +700.0% year on year, and 131% of the last 3 years' profit arrived as cash. What settles it: whether the price catches up with earnings that have already moved.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Dorian LPG Ltd. trades at $44.5, between stages. That is +33.5% against its own 200-day average. It sits at 91% of a 52-week range of $24 to $46. On relative strength it has been ahead of the S&P 500 on a trailing-13-week view for 4 straight weeks.
Today the stock is between stages. At $44.5 it trades +33.5% versus its 200-day average and sits at 91% of its 52-week range ($24–$46).
Against the market, two honest reads. Cumulative: over the last 1.0 years the stock moved +54% while the S&P 500 moved +19% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 4 straight weeks — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 32nd percentile of its own range.
Valuation P/E is the price of $1 of annual profit: how many dollars the market pays for each dollar the company earns in a year.
Dorian LPG Ltd. trades at 9.8× P/E, near the bottom of its own range — cheaper only 32% of the time. Its long-run median P/E is 11.1×, measured across 1.0 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 9.8× is near the bottom of its own range — cheaper only 32% of the time, against a long-run median of 11.1× measured over 1.0 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
Why the multiple sits where it does: over the past year annual EPS moved +112.1% against a +53.5% price move — earnings outran the price, pushing the multiple DOWN its own range.
Put together: the multiple is low against its own past, so the story rests on the earnings line underneath it, not the multiple.
→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.
Stage: Improving Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Dorian LPG Ltd. reads as improving on its fundamental arc. Improving — profit growth bottomed 3 quarters ago at −67.9% and has held its recovery at +122.2%, ROCE lifting at 12.5%. The read is built from 12 quarters across 4 curves, on full evidence.
Why it matters: a sustained climb off the trough is the setup this page is built to catch — the question moves to what you pay for it.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +37.1% | +7.2% | — | — |
| Profit | +111.1% | +3.8% | — | — |
| EPS | +112.1% | +1.9% | — | — |
| Stock price | +53.5% | — | — | — |
→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.
4-Factor Sector Score
No sector-relative score — Dorian LPG Ltd. is not among the largest members shown in this industry comparison for Oil & Gas Midstream.
The score is a rank WITHIN a peer set: every metric is scored by percentile against the other members. Without the peer set there is no score to state, so none is invented here.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Dorian LPG Ltd. reported $0.1 B of revenue in the Mar 26 quarter, +87.5% year on year. That is the 3rd straight quarter of year-on-year growth. Over 4 years it has compounded at 15.5% a year. The last full year, FY26, came in at $0.5 B. The last four reported quarters add to $0.5 B.
Dorian LPG Ltd. reported $0.1 B of revenue in the Mar 26 quarter, +87.5% year on year. That is the 3rd straight quarter of year-on-year growth. Over 4 years it has compounded at 15.5% a year. The last full year, FY26, came in at $0.5 B. The last four reported quarters add to $0.5 B.
FY26 revenue came in at $0.5 B (+37.1% on the year), capping 4 years at 15.5% compound. The latest quarter (Mar 26) printed $0.1 B, +87.5% year on year — the 3rd consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +40.0% growth against the decade's 15.5% — the current year is running faster than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +34.3% over the last 4 quarters against −4.0%/yr over the last 8 — accelerating; TTM profit +122.2% vs −15.5%/yr — accelerating.
→ Revenue grew — did margins hold as it scaled? Next: 53.3% this quarter (+40.8 pp YoY).
Operating margin Operating margin is what is left of every $100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Dorian LPG Ltd.'s operating margin is 53.3% in the Mar 26 quarter, +40.8 percentage points against the same quarter a year ago. Across 5 fiscal years the operating margin has ranged 31.4% to 58.9%. The current quarter sits inside that band.
Dorian LPG Ltd.'s operating margin is 53.3% in the Mar 26 quarter, +40.8 percentage points against the same quarter a year ago. Across 5 fiscal years the operating margin has ranged 31.4% to 58.9%. The current quarter sits inside that band.
The latest quarter's operating margin is 53.3%, +40.8 pp against the same quarter a year ago. Across 5 fiscal years the operating margin has ranged 31.4%–58.9%.
Why the margin moved: operating margin went +40.8 pp year on year while gross margin went +23.3 pp — the gain came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.
→ Margins held — did that reach the bottom line? Next: profit +700.0% in the latest quarter.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Dorian LPG Ltd. earned $0.1 B of net profit in the Mar 26 quarter, +700.0% year on year. It is the 3rd consecutive quarter of growth. Full-year FY26 profit was $0.2 B. The 4-year compound rate is 28.4%. That is 53.3% of the quarter's revenue. The same quarter a year earlier earned $0.0 B.
Dorian LPG Ltd. earned $0.1 B of net profit in the Mar 26 quarter, +700.0% year on year. It is the 3rd consecutive quarter of growth. Full-year FY26 profit was $0.2 B. The 4-year compound rate is 28.4%. That is 53.3% of the quarter's revenue. The same quarter a year earlier earned $0.0 B.
Mar 26 profit was $0.1 B, +700.0% year on year — the 3rd consecutive quarter of growth. On the full year, FY26 printed $0.2 B (+111.1%), and the 4-year compound rate is 28.4%.
Why profit moved: revenue contributed +87.5% and the margin +40.8 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.
Pace comparison, last four quarters: profit +317.5% vs revenue +40.0%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra dollar of revenue drops more to the bottom line.
→ Profit rose — but did the cash follow? Next: 131% of the last 3 years' profit arrived as cash.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 131% of Dorian LPG Ltd.'s reported profit arrived as operating cash — the cash follows the profit. In FY26 that was $0.2 B of operating cash against $0.2 B of profit. After $0.1 B of capital spending, $0.1 B was left as free cash.
FY26: operating cash of $0.2 B against reported profit of $0.2 B, leaving free cash of $0.1 B after $0.1 B of capital spending. Across the last 3 fiscal years the conversion rate is 131% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
Why: conversion is measured cleanly, but the working-capital day-counts behind it sit below what we hold — the move is shown without inventing its driver.
Router verdict: the visible cash user is investment — the next section checks what the spending is buying.
→ So follow the cash to where it goes. Next: $0.0 B of building over 3 years.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Dorian LPG Ltd. does not report the debtor, inventory and payable day-counts a cash cycle is built from, so this section reads the investment side instead. Capital spending ran $0.0 B over the last 3 years. Averaged over those years that is 0.0% of FY26 revenue a year.
Working-capital day-counts are not in our numbers for this stock, so this section reads the investment side — where the cash is being put to work.
On the investment side: capital spending of $0.0 B over the last 3 fiscal years.
The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.
→ Does all this activity actually earn its cost of capital? Next: ROE is 18% and the ROIC − WACC spread is +0.3 pp.
Return on equity Return on equity (ROE) is the profit the business earns on its shareholders’ money. With the full capital-employed split not in our numbers, ROE is the cleanest long ladder we can draw here.
Dorian LPG Ltd. earns a ROE of 17% in FY26. That is up from a trough of 8% in FY22. Return on invested capital clears the cost of that capital by +0.3 percentage points, so growth here adds value rather than only size. The wiring behind it is 39.6% net margin on 0.26× asset turns.
FY26 ROE is 17%, recovered from a FY22 trough of 8% — the full ladder below shows the fall and the climb, undoctored.
Why the return is what it is — the wiring (FY26): 39.6% net margin × 0.26× asset turns × 1.64× balance-sheet leverage ≈ 16.9% on equity. Margin is doing the heavy lifting; leverage is a meaningful part of the equation.
The capstone test — ROIC − WACC: 7.3% − 7.0% = a +0.3 pp spread. The 7.0% is an estimate of this company's own cost of capital — read the sign and the size of the spread, not the decimals. Positive but thin — value creation with little room for error.
→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.62.
Dividend A dividend is cash paid out per share. Dividend per share is the declared amount for the period; the trailing twelve-month total is the four most recent quarters added together.
Dorian LPG Ltd. paid $2.95 per share over the last four reported quarters, up 100.0% on a year ago. The most recent declaration was $1.00 for Mar 26. Against the current price of $44.5 that is a trailing yield of 6.63%, measured on dividends already paid rather than on a forecast.
Dorian LPG Ltd. paid $2.95 per share over the last four reported quarters, up 100.0% on a year ago. The most recent declaration was $1.00 for Mar 26. Against the current price of $44.5 that is a trailing yield of 6.63%, measured on dividends already paid rather than on a forecast.
Dorian LPG Ltd. paid $2.95 per share across the last four reported quarters, most recently $1.00 for Mar 26. That is up 100.0% against the same quarter a year earlier. Against the current price of $44.5 the trailing twelve months work out to 6.63% — trailing dividends measured against today's price, not a forward estimate.
→ A payout is cash leaving the business. Next: what the balance sheet looks like behind it.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.
Dorian LPG Ltd. carries total debt of $0.7 B against shareholder equity of $1.1 B as of Mar 26, a debt-to-equity of 0.62. On the annual view that ratio went from 0.73 in FY22 to 0.62 in FY26. Read the returns elsewhere on this page with that leverage in mind.
Mar 26: total debt of $0.7 B against shareholder equity of $1.1 B — a debt-to-equity of 0.62. On the annual view, debt-to-equity went from 0.73 (FY22) to 0.62 (FY26). Read the returns on this page with that leverage in mind.
→ Who owns this, and are they adding or leaving? Next: short interest is 6.2% of the float.
Ownership There is no quarter-by-quarter holder register to read here, so we read the crowd through short interest — the slice of tradable shares currently sold short, positioned for a fall.
6.2% of Dorian LPG Ltd.'s tradable float is currently sold short — some money is positioned against it. At typical trading volumes those positions would take about 2.8 days to buy back. There is no quarter-by-quarter holder register to read for this filer, so the crowd is read through short interest instead.
The latest reading: 6.2% of the float is sold short, and at typical trading volumes it would take about 2.8 days to buy those positions back. Some money is positioned against it. This is a single point-in-time reading — we do not yet hold its history, so we show no trend chart.
Why it sits there: who is doing the shorting, and why, does not travel with the number — the level is shown without inventing its story.
→ One last check: does the safety math agree? Next: the balance-sheet safety line.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Dorian LPG Ltd.: the Z-score reads 2.07. A Z-score above roughly 3 reads as safe and below roughly 1.8 as the distress zone, so this sits in the grey band between the two. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure.
Why it matters: a Z-score of 2.07 sits in the grey band — neither clearly safe nor clearly distressed.
The safety line in one sentence: the Z-score reads 2.07.
| Company | P/E | Mkt cap | Revenue | EPS | ROCE | Stage |
|---|---|---|---|---|---|---|
| Dorian LPG Ltd. this page | 9.8× | $2B | Improving | |||
| Enbridge Inc. | 26.1× | $121B | Mixed | |||
| The Williams Companies, Inc. | 30.8× | $86B | Turning around | |||
| Enterprise Products Partners L.P. | 14.3× | $84B | Mixed | |||
| TC Energy Corporation | 29.7× | $71B | Deteriorating | |||
| Kinder Morgan, Inc. | 20.4× | $70B | Mixed | |||
| Energy Transfer LP | 16.9× | $70B | Deteriorating | |||
| MPLX LP | 12.8× | $60B | Consistent | |||
| Targa Resources Corp. | 26.7× | $56B | Improving | |||
| ONEOK, Inc. | 15.9× | $56B | Improving | |||
| Cheniere Energy, Inc. | 37.5× | $53B | Turning around | |||
| Cheniere Energy Partners, L.P. | 15.0× | $31B | Turning around | |||
| Venture Global, Inc. | 13.5× | $30B | No read | |||
| Pembina Pipeline Corporation | 26.2× | $29B | Deteriorating | |||
| Western Midstream Partners, LP | 15.5× | $19B | Deteriorating | |||
| Plains All American Pipeline, L.P. | 18.6× | $17B | Turning around | |||
| Viper Energy, Inc. | — | $15B | Deteriorating | |||
| DT Midstream, Inc. | 30.6× | $14B | Turning around | |||
| Antero Midstream Corporation | 25.3× | $10B | Mixed | |||
| Frontline plc | 9.5× | $9B | Turning around | |||
| Hess Midstream LP | 13.9× | $8B | Mixed | |||
| Kinetik Holdings Inc. | 20.1× | $8B | Turning around | |||
| South Bow Corporation | 18.4× | $8B | No read | |||
| Plains GP Holdings, L.P. | 26.5× | $6B | Deteriorating | |||
| Golar LNG Limited | 38.1× | $5B | Improving | |||
| International Seaways, Inc. | 8.5× | $5B | Turning around | |||
| Cmb.Tech NV | 9.2× | $4B | Turning around | |||
| Excelerate Energy, Inc. | 488.2× | $4B | Mixed | |||
| SunocoCorp LLC | — | $4B | — | — | — | — |
| Scorpio Tankers Inc. | 7.8× | $4B | Turning around | |||
| BW LPG Limited | 9.1× | $3B | Turning around | |||
| TORM plc | 8.7× | $3B | Turning around | |||
| DHT Holdings, Inc. | 9.0× | $3B | Mixed | |||
| Teekay Tankers Ltd. | 6.2× | $3B | Turning around | |||
| NGL Energy Partners LP | — | $2B | No read | |||
| Genesis Energy, L.P. | — | $2B | — | — | — | — |
| FLEX LNG Ltd. | 22.2× | $2B | Deteriorating | |||
| Global Partners LP | 13.5× | $2B | Improving | |||
| Nordic American Tankers Limited | 24.9× | $1B | Turning around | |||
| Navigator Holdings Ltd. | 13.5× | $1B | Mixed |
Frequently asked questions
What is Dorian LPG Ltd.'s stock price today?
Dorian LPG Ltd. trades at $44.5, +53.5% over the past year. The company is valued at $2.0 B. The stock sits at 91% of its 52-week range of $24–$46, +33.5% versus its 200-day average. Against the S&P 500 it has been ahead on a trailing-13-week view for 4 weeks. — as of 29 July 2026.
What were Dorian LPG Ltd.'s latest quarterly results?
Dorian LPG Ltd. reported revenue of $0.1 B and net profit of $0.1 B for the Mar 26 quarter. Revenue rose 87.5% and profit rose 700.0% year on year. Earnings per share were $1.90. The operating margin was 53.3%, 40.8 pp higher than a year earlier. — as of 29 July 2026.
What is Dorian LPG Ltd.'s revenue?
Dorian LPG Ltd. reported revenue of $0.1 B in the Mar 26 quarter, +87.5% year on year. For the full FY26 fiscal year, revenue was $0.5 B (+37.1%). Over the last 4 years revenue compounded at 15.5% a year. — as of 29 July 2026.
What is Dorian LPG Ltd.'s profit?
Dorian LPG Ltd. earned $0.1 B of net profit in the Mar 26 quarter, +700.0% year on year — the 3rd straight quarter of growth. Full-year FY26 profit was $0.2 B. The operating margin ran 53.3% in the latest quarter. — as of 29 July 2026.
What is Dorian LPG Ltd.'s market cap?
Dorian LPG Ltd.'s market capitalisation is $2.0 B at a stock price of $44.5. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 29 July 2026.
What is Dorian LPG Ltd.'s P/E ratio?
Dorian LPG Ltd. trades at a P/E of 9.8×, at the 32nd percentile of its own 1-year range, against a long-run median of 11.1×. This is a comparison with the stock's own history, not a value call — as of 29 July 2026.
Does Dorian LPG Ltd. pay a dividend?
Yes — Dorian LPG Ltd. declared $1.00 per share for Mar 26, and $2.95 per share across the last four reported quarters. The latest quarter is up 100.0% on the same quarter a year earlier. — as of 29 July 2026.
What is Dorian LPG Ltd.'s dividend per share?
Dorian LPG Ltd.'s most recently declared dividend is $1.00 per share for Mar 26, giving $2.95 per share over the trailing twelve months. Each figure is the amount declared for that quarter as reported, added across four quarters for the trailing total. — as of 29 July 2026.
What is Dorian LPG Ltd.'s dividend yield?
Dorian LPG Ltd.'s trailing dividend yield is 6.63%: $2.95 declared per share across the last four reported quarters, against a share price of $44.5. Each quarter’s figure is the amount declared for that quarter as reported, added across four quarters and divided by the latest close. — as of 29 July 2026.
Is Dorian LPG Ltd. overvalued?
On its own history, Dorian LPG Ltd. looks cheap against its own history: its P/E of 9.8× has been cheaper only 32% of the time in 1 years (long-run median 11.1×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 29 July 2026.
Is Dorian LPG Ltd. growing?
Yes — Dorian LPG Ltd. is growing: latest-quarter revenue +87.5% year on year, profit +700.0%, and the margin +40.8 pp at 53.3%. The 4-year compound rates are 15.5% (revenue) and 28.4% (profit). The earnings engine currently reads: improving — as of 29 July 2026.
How is Dorian LPG Ltd. performing?
Dorian LPG Ltd.'s latest readings are below. Its latest quarter's revenue rose 87.5% and profit rose 700.0% year on year. Against the S&P 500 it has been ahead on a trailing-13-week view for 4 weeks. This describes what the data did, not a rating. — as of 29 July 2026.
What stage is Dorian LPG Ltd. in?
Improving — profit growth bottomed 3 quarters ago at −67.9% and has held its recovery at +122.2%, ROCE lifting at 12.5%. The read comes from the last 12 quarters of growth (revenue growth +34.3% latest, profit growth +122.2% latest, eps growth +110.6% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 29 July 2026.
Is Dorian LPG Ltd. beating the market?
On recent form, yes — Dorian LPG Ltd. has been ahead of the S&P 500 on a trailing-13-week view for 4 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 1.0 years the stock moved +54% against the S&P 500's +19% — ahead of the index over the full window. — as of 29 July 2026.
Will Dorian LPG Ltd.'s stock price go up?
This page publishes no price forecast for Dorian LPG Ltd. What it measures instead: the stock price is $44.5. Its P/E of 9.8× sits at the 32nd percentile of its own 1-year range. Direction is not something this site claims to know. — as of 29 July 2026.
Is the market betting against Dorian LPG Ltd.?
Somewhat — short interest is 6.2% of Dorian LPG Ltd.'s tradable float, about 2.8 days to cover at typical volumes. A moderate reading: some money is positioned against it. With no quarter-by-quarter holder register here, short interest is the cleanest crowd read we hold — as of 29 July 2026.
Does Dorian LPG Ltd. have too much debt?
It is moderate — Dorian LPG Ltd.'s debt-to-equity is 0.62. A year-by-year borrowings ladder is not in our numbers for this stock, so the latest reading is the cleanest hold. Read the returns on this page with that leverage in mind — as of 29 July 2026.
What is Dorian LPG Ltd.'s capex?
Dorian LPG Ltd. spent $0.0 B on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was $0.1 B. — as of 29 July 2026.
What is Dorian LPG Ltd.'s cash flow?
Dorian LPG Ltd. generated $0.2 B of operating cash flow in FY26 and $0.1 B of free cash flow after $0.1 B of capital spending. Reported profit that year was $0.2 B, so operating cash ran ahead of profit. — as of 29 July 2026.
Is Dorian LPG Ltd.'s profit real cash?
Yes — over the last 3 fiscal years, 131% of Dorian LPG Ltd.'s reported profit arrived as operating cash. In FY26, operating cash was $0.2 B against reported profit of $0.2 B. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 29 July 2026.
How financially safe is Dorian LPG Ltd.?
On the balance sheet, the Z-score reads 2.07 — above roughly 3 is safe, below roughly 1.8 is the distress zone. That is in the grey band — neither clearly safe nor clearly distressed. — as of 29 July 2026.
Where is Dorian LPG Ltd. in its business cycle?
Dorian LPG Ltd.'s FY26 operating margin was 43.8%, against a 5-year band of 31.4%–58.9%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 53.3%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 29 July 2026.
What could break the Dorian LPG Ltd. story?
The sharpest disagreement: annual EPS moved +112.1% against a +53.5% price move — the market has not yet caught up with the delivery. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 29 July 2026.
Is Dorian LPG Ltd. a stock worth studying right now?
This is not investment advice. The machine read: Dorian LPG Ltd.'s earnings have outrun its stock. EPS grew +112.1% in a year against a +53.5% price move. The sharpest open question: whether the price catches up with earnings that have already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 29 July 2026.